MEO 1.13 +0.010 +0.89% high of 1.15 528,391 shares $594,182 @ 19-Oct 01:00:13 PM
Two ASX ANN today did do much for the SP!!!
9/10/2007 Heron-2 Well Weekly Drilling Report
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00771721
HERON-2 WELL WEEKLY DRILLING REPORT
Key Points:
• Drilled 36 inch hole and 30 inch casing set to 108m
• Final rig commissioning, testing and minor repairs completed
• At 06.00 am commenced drilling the 26 inch hole
MELBOURNE, AUSTRALIA (October 19, 2007) — MEO Australia Limited (ASX: MEO) submits this drilling report for the period ending 0900 hours, October 19, 2007. The Heron-2 well was spudded at 2230 hours (ACST) on October 12, 2007 in Exploration Permit, NT/P68.
As a new rig, MEO allowed for an approximate 5 day period for final rig commissioning, equipment testing and minor repairs to ensure all critical equipment was fully operational prior to drilling out of the 30 inch conductor. At 6 am this morning, the rig commenced drilling the 26 inch hole.
Petrofac Energy Developments Oceania Ltd (Petrofac Limited subsidiary) 10%
Heron-2 is being drilled by Seadrill’s West Atlas jack-up rig contracted to MEO for two firm wells and one option well.
The Heron-2 well is designed as a vertical well to penetrate and production test the Epenarra Darwin Formation and the deeper Elang/Plover Formation of the Heron North structure. The planned total depth of the well is approximately 4300m below sea level.
The Heron-1 well drilled by ARCO in 1972 intersected a 52m gas bearing column in the Darwin Formation (a fractured carbonate reservoir) within the 1,200 square km mapped closure of the large Epenarra structure. Heron-1 also reached a gas charged zone in the deeper underlying Elang/Plover horizon, which is a secondary objective for the Heron-2 well.
————————————————————————
19/10/2007 Recent Trading in MEO Shares
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00771630
MELBOURNE, AUSTRALIA (October 19, 2007) — MEO Australia Limited (ASX: MEO) advises the market that approximately 3.5 million shares in the Company have been sold by a substantial shareholder.
As soon as this trading was noticed, the Company contacted the seller offering to facilitate the sale of these shares. This offer of assistance was not accepted and all sales were made on market.
MEO is concerned that the manner of these sales may have had an impact on the share price at a time when the Company is embarking on activities that could confirm commercial gas reserves in NT/P68 and lead to the initiation of the development of the proposed LNG and methanol production projects.
Be the first to comment